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Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
 THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fallen more than 20 per cent on weakening Chinese demand. Goldman Sachs analyst Malcolm Southwood said Chinese buyers have been largely absent from the spot market for almost a month and show no immediate inclination to return while sentiment remains weak.
He said the economic powerhouse continues to shun offers as it expects prices to keep falling.
"With spot iron ore trading at a discount of more than 20 per cent to the implied third quarter contract price, the new quarterly pricing mechanism is clearly under duress," he said.
"Our own view is that quarterly pricing based on a trailing average index may prove to be too cumbersome, and monthly price resets could ultimately be a more palatable mechanism for both buyers and sellers."
The top three global iron ore producers, Brazil's Vale, Rio Tinto and BHP Billiton, all pushed their customers off the annual benchmark on to quarterly indexed-based contracts.
Mr Southwood said while the investment bank continued to forecast a supply-constrained seaborne market in 2011, market participants remain focused on the near term, which he said was increasingly difficult to construct a "positive fundamentally driven price view".
"With seasonal factors also depressing demand, we see little prospect of a sustained improvement in market conditions during July-August," he said.
Macquarie's London-based analysts said Chinese mills had been running down their on-site inventory as sentiment turned sour.
"In our opinion, there is no obvious catalyst to arrest the current fall in the spot price, and we expect it to drift lower over the next month," Macquarie's team said in a report.
A drop in the spot price came as magnetite producer Grange Resources secured a 107 per cent jump in the annual iron ore pellet benchmark price in a sales deal with BlueScope Steel.
Grange announced yesterday BlueScope would pay $US150 a tonne for iron ore pellets delivered from Grange's Port Latta facility in Tasmania during the quarter beginning on July 1.
Grange chief executive Russell Clark said in addition to agreeing an interim price, the miner was also discussing a new pricing mechanism with BlueScope.
Source: The Australian / Hellenic Shipping
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Thursday, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
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- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
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